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VIX futures continue to decline

FXStreet (Mumbai) - The S&P 500 VIX futures extended their decline today as the uncertainty in the financial markets continues to decline this week.

The S&P 500 VIX November futures are trading 2.07% lower at 16.53. Moreover, the futures are down more than 29% from the high of 23.50 hit on Oct. 16th. Since then, the financial markets in the US have recovered on strong corporate earnings and fall in the global economic uncertainty.

Moreover, the US consumer confidence data at 7-year highs is likely to see a further decline in the VIX futures. However, the futures may find support as the investors turn cautious ahead of the Federal Reserve meet results due tomorrow.

S&P 500 VIX futures Technical levels

The futures have an immediate support at 16.10 (Oct 2nd low), under which it can fall to 15.20 levels. On the flip side, resistance levels are seen at 16.75 (Oct 22nd low) and 17.30 (Oct 2nd high).

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